GLOSSARY - Bizworld

GLOSSARY

BizWorld Vocabulary

BUSINESS 101

Business Capital Chief Executive Officer (CEO) Deposit Entrepreneur Ethics Expense Finance Founder Incorporate Job application Loss Negotiate Pitch Product Profit Reconcile Rent Revenue Salary Service Stock Venture Capitalist (VC) Vice President (VP) Design VP Finance VP Manufacturing VP Marketing VP Sales Withdrawal

a person or group of people who create and sell products and/or services in order to make money money and/or other resources used to make more money a person who leads the team and manages the smooth operation of the company and its employees money put into an account a person who takes on the risk of beginning and operating a new business the rules of society that help people to tell the difference between acceptable and unacceptable behavior a cost associated with operating a business the management of money and other items of value a person who starts a business to form a company that is recognized by the government as an independent organization a form, filled out by someone who wants a job, summarizing their skills and experience total expenses exceed total revenue; opposite of profit to bargain and come to an agreement with another person a presentation made to convince someone (a VC) to invest money in a company something made by humans, machines, or nature money made by a company, after expenses have been paid to check for accuracy money regularly paid to use or occupy a space money a company earns from selling a product or service money a person is paid for working work that someone does for another person pieces of ownership in a company; a piece of stock is called a "share" of stock a person who invests money in new and innovative businesses a person who leads the team in creating an attractive design and quality product that will appeal to customers a person who leads the team in making sure all money is accounted for and the company is making a profit a person who leads the team in making the product as easily and inexpensively as possible a person who leads the team in promoting the company, product, or service a person who leads the team in providing excellent customer service and selling lots of products money taken out of an account

PART A: DESIGN

Business plan Cash on hand Design Efficient Funding Prototype Retail Venture capital

a written document describing a business and its goals money in the form of cash that a business has at a particular time to plan or create something artistically operating in a way that does not waste time, money, or effort money, in the form of cash, which is available for use a full-scale model of a new product or new version of an existing product the price of goods, in smaller quantities, not intended for resale money received from a venture capitalist as an investment in a company

Terms in bold are the essential vocabulary. If you are short on time or teaching younger students, it is recommended you focus on the terms in bold.

GLOSSARY

BizWorld Vocabulary

PART B: MANUFACTURING

Assembly line

a manufacturing technique where a product is assembled step-by-step by multiple individuals, each performing a specific task

Debt

something owed, such as money, products, or services

Interest

the fee paid for borrowing money

Inventory

the number of finished products on hand

Job shop

a manufacturing technique where one individual produces a product from start to finish

Loan

a sum of money borrowed that is repaid with interest

Manufacturing

the making or producing of goods (products)

Pricing structure the planned selling price of products calculated to generate a desired profit

Scarcity

shortage of supply

Stock market

where stocks are bought and sold

Wholesale

the price of goods, in larger quantities, sold for the purpose of resale

PART C: MARKETING

Advertising

the activity of attracting public attention to a product or business

Brand

the features that make a company's goods or services distinct from other sellers

Logo

a company's name, trademark, or symbol, often designed for easy recognition

Marketing

the activities involved in transferring a company's product and/or service from the company to the consumer (customer)

Marketing campaign a series of actions intended to achieve the specific goal of promoting and selling a product(s)

Slogan

a short, unique phrase used to advertise a company or product

PART D: SALES

Assets Balance sheet

Equity Income statement Liabilities Sales

items a business owns that can be exchanged for cash a financial document that shows what your company owns and what it owes at a specific moment in time, usually at the close of a financial period money that is invested in the company plus profit a financial document that shows a company's revenue, expenses, and profit (or loss) over a period of time the money a business owes the act of selling a product/service in exchange for money

Terms in bold are the essential vocabulary. If you are short on time or teaching younger students, it is recommended you focus on the terms in bold.

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